Ally Financial Inc. (NYSE:ALLY) to Issue Quarterly Dividend of $0.30

Ally Financial Inc. (NYSE:ALLY - Get Free Report) announced a quarterly dividend on Friday, January 17th,RTT News reports. Investors of record on Friday, January 31st will be given a dividend of 0.30 per share by the financial services provider on Friday, February 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.25%.

Ally Financial has increased its dividend payment by an average of 10.9% per year over the last three years. Ally Financial has a dividend payout ratio of 20.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ally Financial to earn $3.99 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 30.1%.

Ally Financial Stock Performance

NYSE:ALLY traded down $0.41 during mid-day trading on Friday, hitting $36.96. The company's stock had a trading volume of 5,100,197 shares, compared to its average volume of 2,202,021. The business's fifty day moving average is $36.85 and its two-hundred day moving average is $37.99. The stock has a market cap of $11.26 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 0.33 and a beta of 1.44. Ally Financial has a 1 year low of $31.77 and a 1 year high of $45.46. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.57 by $0.38. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company earned $0.83 earnings per share. Ally Financial's revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts anticipate that Ally Financial will post 2.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ALLY shares. Morgan Stanley increased their price target on shares of Ally Financial from $41.00 to $42.00 and gave the stock an "overweight" rating in a report on Thursday, December 19th. Barclays raised their target price on Ally Financial from $36.00 to $44.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. Royal Bank of Canada reiterated an "outperform" rating and set a $40.00 price target on shares of Ally Financial in a research report on Monday, October 21st. JPMorgan Chase & Co. cut their price objective on Ally Financial from $42.00 to $40.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, Truist Financial assumed coverage on shares of Ally Financial in a research note on Tuesday, January 7th. They issued a "buy" rating and a $42.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $42.53.

Ally Financial Company Profile

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.